facilitates investigation of distortionary effects of fiscal and pension policy responses to ageing. The model is calibrated to … the Finnish economy, which will encounter substantial ageing pressures in the near future. During the transition to an … older population structure ageing costs can be substantially lowered by allowing public funds to smooth out the tax …

. This study concentrates on the effects of ageing on the evolution of global interest rates and financial flows. The study …

ageing. When the responses of labour supply, wages, and hence private consumption, to higher taxation are consistently … accounted for, population ageing has clearly much larger effects on public finance, when compared to mechanical sustainability … burden of ageing. This is due to the fact that stochastic variation in the length of working time has only a relatively small …

. The sensitivity of the deficit and debt ratios to changes in the real interest rate and economic growth is also assessed …. Moreover, since population ageing will cause an extra burden on public finances, the fiscal pressure of rising pension costs in …, especially in Finland and Italy, due to tax harmonisation and tax competition. Moreover, population ageing will impose pressures …